Luxcara, a major asset manager for renewable energy investments, has acquired the Guillena-Salteras solar project located in southern Spain.
The solar park is situated north of Sevilla in the intensely sunny region of Andalusia and is expected to connect to the Salteras transformer substation, owned by Red Eléctrica de España.
The plant is estimated to have a capacity of approximately 121MW. The construction works at plant are expected to start shortly and is expected to be connected to the grid by second quarter of 2020.
Similar to El Salobral project, which was acquired by Luxcara in December 2017, Guillena-Salteras will sell the produced electricity directly to an off-taker on the basis of a power purchase agreement (PPA).
The project has been acquired from a portfolio for institutional investors and is developed by Solarig Global Services, who took up the work of building the plant as an EPC contractor.
Luxcara managing partner Philip Sander said: “This is our second investment in southern Spain within a year. Andalusia continues to convince us with its high specific yield and very low LCOE.”
In May 2018, Facebook has signed a long term power purchase agreement (PPA) with Luxcara. According to which, Luxcara would supply 294MW of renewable energy to Facebook, from the three wind farms, including Gravdal, Skinansfjellet and Eikeland-Steinsland in southwest Norway.
The three projects are collectively known as the Bjerkreim cluster and will include 70 of 4.2MW turbines. These wind projects are expected to reach commercial operation in the last quarter of 2019.
Luxcara claims that it has invested approximately €400m for the three projects. These three wind farms are part of a portfolio of renewable energy assets for institutional investors managed by Luxcara.
Once operational, Bjerkreim and Egersund facilities are expected to increase company’s wind energy portfolio in Norway to more than 400 MW.